NO. 44


OPEC Pricing Reviewed: SDRs Or A Declining US Dollar?

by Toru Tachibana, Senior Economist The Japanese Institute of Middle EasternEconomies

When the value of the US dollar begins to fluctuate, and particularly when itfalls, oil-producing countries become anxious about their oil export revenues,which are usually denominated in US dollars. OPEC exporters are specificallysensitive because they, with the exception of Indonesia at 30%, obtain 80-90% oftheir revenue from...